Completion

This is the moment you have been waiting for. Your conveyancer or solicitor will confirm all the funds have been successfully transferred and that the ownership of the property has passed from the seller to the buyer.

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Why is this important?

On completion, the property’s ownership officially and legally passes from seller to buyer. Your solicitor would have confirmed that the sale and purchase are complete and you can now collect the keys.

What happens?

As the buyer, your solicitor will handle all the finances that day, liaising with your mortgage lender for the electronic transfer of the money to the seller’s solicitor. Your solicitor will call you when you can pick up the keys to your new home. As the seller, your solicitor will call you with confirmation that they have received the funds. They will then liaise with the estate agent, if you have used one, to release the keys to the purchaser at an agreed time.